"I've consistently been impressed with J.J. as a filmmaker and storyteller," praised George Lucas of Abrams in an official statement. "He's an ideal choice to direct the new Star Wars film and the legacy couldn't be in better hands."

Said Abrams, "To be a part of the next chapter of the Star Wars saga, to collaborate with Kathy Kennedy and this remarkable group of people, is an absolute honor. I may be even more grateful to George Lucas now than I was as a kid."

In October, it was announced that Disney had acquired Star Wars creator George Lucas' company Lucasfilm Ltd. for $4.05 billion in cash and stock, in turn announcing that new Star Wars movies will be released. The first new Star Wars movie -- Star Wars: Episode 7 -- will be released in 2015 with Lucas serving as creative consultant. Kathleen Kennedy, who is the current co-chair of Lucasfilm, will become Lucasfilm's president and serve as executive producer on new Star Wars feature films.